St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-01-02
ST. PAUL REAL ESTATE.
Real Estate Sales in st. Paul in 1885 Are
More Than Twice Those of
1885.
Remarkable 0heapness of Realty in st.
Paul Compared With Prices in Kan
sas City.
The Demand Here Increasing Daily.
Especially for Business Blocks
Well Located
A Good Many Strangers From Abroad
Coming Here to Invest Their
Money.


business properties have been quite infre-
quent, and very difficult to make. Prices
have been uniformly conservative, and
vast amount of property has been on the
market without buyers. All this is rapidly
changing, so that now the largest and
choicest business properties are beginning
to be sought after. Prices are still decid-
eddy conservative, but for three months
past there has been an increasing demand.
The commanding location of st. Paul has
become very much better known to the out
side world, and it is attracting the attention
of capitalists all over the country. ms
does not arise. perhaps, so much from de-
sire to come here and live, or to become
permanently identified with this metropo-
lis. but from the speculative mania that
prevails everywhere. 1T IS now as wei
known as anything not accomplished can
be known, that within the coming decade
St. Paul will reach to the position of second
city in the West. next in population and
wealth to Chicago. with the possibility of
becoming first city in the West before the
close of the century. This recognized fact
will bring millions of money here to invest
so as to reap the vast profits that will be
found here through the great growth and
wonderful prosperity, The advance col
umns of these investors are already here,
and they far outstrip old residents in
quick appreciation of the present oppOrtu-
mites. Many of the old residents are still
incredulous and actually doubt the teSti-
monv of their own senses. They refuse to
believe and so are losing the golden oppor-
tunites, as before remarked, which new
corners seize upon with avidity. Corners
that have been held in previous years at
f-o1tr In ao+t mol
ent values look to them as inflated. Before
they recover from their establishment some
enterprising stranger has bought the prop
erty and sold it at a handsome profit: and
so it goes from one years end to another.
There has really been more inquiry and
more sales of property classed as business
property in December than was ever
known before in winter month. The near
approach of the holidays and the fact that
taxes became lien on the 1st of January
had some temporary effect in causing some
suspension of operations. This however,
will be but for few days. Probably by to-
morrow or next day there will be a renewal
of such rapid and large transactions in
realty as will surpass the record OF any pre-
ViOuS year. Business property anywhere
between Broadway and st. Peter streets is
in excellent demand. and there IS really a
SCalClIN !
and Jackson. During the past week cash
offers have been made on several of the
best unOccupied corners within this area,
but thus far there seems to have been an
irreconcilable difference of opinion between
owners and the parties desiring to purchase.
Offers of $50, 600 and 500. 900 cash fol
very choice properties are now made as fire.
ouently as $500 900 or S25, 600 cash. were
two wears ago. Where there were two
buyers then there are twenty now. 1t is
not at ali uncommon for some conservative
buyer to have dialogue with an owner
something like this, such talks are frequent
III real estate Offices
Buyer-I will give you "spot cash" so much
for this property.
Owner-I wont take it, The property is
worth all ask for it and it will sell for that.
Buyer-You will hold that corner a good
many ears before you will ever realize the
price you ask.
owner with sneer)-I don't care how
long hold it. 1 will get that figure or more
or l viii die owning the property.
Buyer-Good day, sir.
He goes off and looks for something as
favorably located at a lower figure. He
tramps from one real estate Office TO another
and when finally convinced that the prop
erty is worth what the owner asks for it he
goes back to take it and dialogue some
thing like this follows:
Buyer have concluded to take that cor
ner at your price and on your terms.
Owner-Too late. l sold that property tn;
next morning after you declinedit, and hea
that IL has been sold since at a considerable
advance over what got.
This is no fancy sketch, but a correc
account of what occurs almost every day
The man from the East and the Middle
states and from the South
IS HERE NOW IN PERSON
or by trusted agent, and where trustee
old settler declines TO take piece Of prop
erty because he thinks he is the only Gus
toner that wants it, in lime times out o
ten he makes this same kind of mistake a
is noted in the above dialogue. The mel
who start west to find the safest place TO
investment 60 first to Chicago, spend a fey
DAYS there. then come to st. Paul. look til
field over, then 90 to Omaha. then to Kan
sas City and ST. Louis, after which the
return to st. Paul. or they rev erse tn
route, going to Chicago, St. Louis Kansa
CITY, Omaha and st. Paul but no differ
ence which order Or route they take, the
finally come back to ST. Paul because prop
erty is cheaper here. all things considered
than in any other present or prosperity
great city in the West This fact has be
come so well known that many prOSpectoI
for investments come direct to this city an
buy without going on to examine other lC
calties. The record of the year 1856 ha
been made up and closed. The market ha
been carefully watched during the Who'll
year, has been reported faithfully an
fairly week by week and without eXaggel
alton. The result demonstrates the fac
that the year 1856 was the best year in s.
Paul realty that this city has ever seer
This matter of the sale of real estate is nee
pssarly one of record The amount sol
in dollars and cents, and the number {
transfers cannot be increased or diminishe
IN accordance with the wishes of boomers
Consequently the amount of business don
in 1886 can be known and read of all mel
and is wholly beyond the possibility {
question. In 1885 the transfers in S